Last December, nearly 200 countries pledged to reduce global greenhouse-gas emissions in the COP21 Paris Agreement, in order to keep global warming below 1.5 degrees celsius. The long-term goal of net-zero emissions is an important part of this agreement, sending a clear signal to business and capital markets that the transition to a zero-carbon economy will continue to accelerate and helping to unlock private investment in clean energy technology and drive innovation.

Last month former U.K. Labour leader Ed Miliband called for the U.K government to embed the net-zero target in law. B Team Co-Chairs Sir Richard Branson and Jochen Zeitz, and B Team Leader and CEO of Unilever, Paul Polman, wrote, on behalf of The B Team, to Chancellor George Osborne supporting this call. Our letter made clear that bold action at the national policy level to ensure that the Paris Agreement is fully implemented on a global scale is supported by business.